Lahontan Gold Corp. (TSXV: LG) (OTCQB: LGCXF) has appointed Billy Choi as its new chief financial officer, with Choi expected to assume full CFO responsibilities in October 2026 following a transition period. The move strengthens the company's financial management team as it advances permitting for the Santa Fe Mine and targets a restart of production in 2027.
Choi most recently served as vice president of finance at Lithium Royalty Corp., where he was involved in its initial public offering, public-company reporting, financial controls, and subsequent acquisition by Altius Minerals. His experience in capital markets and financial oversight is expected to be instrumental as Lahontan Gold moves through the permitting process and prepares for a potential production restart. The appointment comes at a critical juncture for the company, which holds four top-tier gold and silver exploration properties in the Walker Lane of mining-friendly Nevada through its US subsidiaries.
Lahontan's flagship property, the 26.4 km2 Santa Fe Mine project, had past production of 359,202 ounces of gold and 702,067 ounces of silver between 1988 and 1995 from open pit mines utilizing heap-leach processing. According to a Canadian National Instrument 43-101 compliant technical report, the Santa Fe Mine has an Indicated Mineral Resource of 1,539,000 oz Au Eq (48,393,000 tonnes grading 0.92 g/t Au and 7.18 g/t Ag, together grading 0.99 g/t Au Eq) and an Inferred Mineral Resource of 411,000 oz Au Eq (16,760,000 tonnes grading 0.74 g/t Au and 3.25 g/t Ag, together grading 0.76 g/t Au Eq), all pit constrained. The company plans to continue advancing the Santa Fe Mine project towards production, update the Santa Fe Preliminary Economic Assessment, and drill test its satellite West Santa Fe project during 2025.
The appointment of Choi is a strategic step to bolster financial leadership as Lahontan Gold navigates the complex process of permitting and development. With a target production restart in 2027, the company aims to capitalize on Nevada's rich mining history and favorable regulatory environment. The Santa Fe Mine's existing resources and past production provide a solid foundation for future growth. Investors can view the full press release at https://nnw.fm/BUdJ8. For more information, visit the company's website at http://www.lahontangoldcorp.com.
The technical content of this news release and the company's technical disclosure has been reviewed and approved by Michael Lindholm, CPG, Independent Consulting Geologist to Lahontan Gold Corp., who is a Qualified Person as defined in National Instrument 43-101 — Standards of Disclosure for Mineral Projects. The Preliminary Economic Assessment, NI 43-101 Technical Report, Santa Fe Project, with an effective date of December 10, 2024, and report date of January 24, 2025, is available on the company's website and SEDAR+. Mineral resources are reported using a cut-off grade of 0.15 g/t AuEq for oxide resources and 0.60 g/t AuEq for non-oxide resources, based on assumptions of US$1,950/oz gold, US$23.50/oz silver, and oxide gold recoveries ranging from 28% to 79%, oxide silver recoveries from 8% to 30%, and non-oxide gold and silver recoveries of 71%.
The latest news and updates relating to LGCXF are available in the company's newsroom at http://nnw.fm/LGCXF. NetworkNewsWire, a specialized communications platform, disseminated this announcement.
